Registered number:
10370334
OTLEY INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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OTLEY INVESTMENTS LIMITED
REGISTERED NUMBER: 10370334
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 1
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OTLEY INVESTMENTS LIMITED
REGISTERED NUMBER: 10370334
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2020
For the year ended 31 March 2020 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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R W Key
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................................................
Mrs C J Key
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
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OTLEY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Otley Investments Limited is a private company limited by shares registered in England and Wales, registration number 10370334. The registered office is Rysa Lodge, School Street, Seething, Norwich, NR15 1DL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Sterling (£).
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Page 3
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OTLEY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Investments in subsidiary companies
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Called up share capital not paid
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Page 4
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OTLEY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Allotted, called up and fully paid
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17,787 (2019 - 17,787) Ordinary A shares of £1.00 each
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17,787 (2019 - 17,787) Ordinary B shares of £1.00 each
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83,001 (2019 - 83,001) Ordinary C shares of £1.00 each
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Allotted, called up and partly paid
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6 (2019 - 6) Ordinary A shares of £1.00 each
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6 (2019 - 6) Ordinary B shares of £1.00 each
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15 (2019 - 15) Ordinary C shares of £1.00 each
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Other reserves
Other reserves consists of the premium paid on the acquisition of 118,575 shares in Rysa Lodge Residential Properties Limited. The provisions of merger relief under section 612 of the Companies Act 2006 were applied and as a consequence no share premium is recorded in respect of the shares purchased.
Profit and loss account
The profit and loss account includes all current and prior period retained profits and losses.
Page 5
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